Apprasiers, I need your help

[Teri Pegnataro]

Hi All,

I am taking a Real Estate class, and I have to interview an appraiser. Any help would be greatly appreciated if you could answer the following questions.

1. How do methods differ when the appraiser looks at residential, multifamily, or commercial properties?  (Methods are:  Cost and income approach or sales comparison)
2. What role do real estate agents and finance companies play in the appraisal process?
3. How are appraisers trained and ultimately licensed?
4. How do you choose a "good" appraiser?
5. Out of the three primary appraisal methods (Comparison Approach, the Income Approach, and the Cost Approach), which ones can be applied to residential, multifamily, and commercial?

Looking forward to hearing your answers.